Tulsa vs Nearby Cities
It’s common to see median listing prices around $200,000 in the Tulsa area. The city’s median home value is much closer to $100,000, and it’s not uncommon for buyers to pay $80,000 or less for homes in move-in condition. Many nearby cities offer the same range of real estate prices, including Broken Arrow, Muskogee and Claremore. This northwestern region of the state is also home to small towns that offer even lower prices. For instance, the median listing price in Bartlesville tends to stay below $150,000. The median home value in this city is around $100,000, and it’s common for buyers to pay an average of $75 or less per square foot.
Tulsa Property Managers
Are you struggling to keep up with the growing to-do list that keeps your rental business profitable? Many property managers in Tulsa are hired for exactly this reason. Busy property owners depend on managers to ensure that bills are paid, maintenance duties are performed to high standards and all rental units are in compliance with the law.
Tulsa Property Management Company Fees
Most property managers negotiate their basic management fee based on the amount of rent collected from tenants each month. This is sometimes a flat percentage, but it can fluctuate in some cases. It’s common to see rates around 10 percent of the gross rent collected, but your final fee will depend on the demands of your property, the skill of your manager and the services that you want the manager to deliver.
Oklahoma Landlord/Tenant Laws
- Once a tenant vacates a rental unit, the landlord has 30 days to return their security deposit.
- There is no limit to the dollar amount that a landlord may charge for a security deposit in Oklahoma.
- When a landlord fails to return a tenant’s security deposit, the tenant may place a lawsuit worth up to $7,500 in damages.